by our College Data Analytics TeamMany students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at Rochester Community and Technical College can sound tremendous, but do not forget that almost all students get some type of financial help.
Just what financial aid solutions can Rochester Community and Technical College deliver, and just what are you going to be eligible for? Keep reading for answers. Keep going to see how much school funding could be available to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. The figures below will help you estimate the aid you might receive from Rochester Community and Technical College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
For freshmen starting at Rochester Community and Technical College, 75% of entering full-time freshmen got some type of financial assistance some 387 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 58% | $5,771 |
| Institutional grants & scholarships | 9% | $1,609 |
| Federal Pell grants | 43% | $5,270 |
| State/local grants | 49% | $1,847 |
| Federal student loans | 27% | $5,021 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Rochester Community and Technical College, about 65% of undergraduates were awarded grant or scholarship aid averaging $4,473 (across approximately 3049 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 65% | $4,473 |
| Federal Pell grants | 28% | $3,968 |
| Federal student loans | 19% | $6,151 |
For on-campus title-IV students, average grant aid came to $5,204.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $10,906 |
| $30,001 – $75,000 | $12,095 |
| Over $75,000 | $16,626 |
Each figure is the net price after grants and scholarships, not the published sticker price.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $14,435 |
| Off-campus title-IV students | $13,148 |
For a personalized estimate based on your family’s financial situation, use Rochester Community and Technical College’s official net price calculator: www.minnstate.edu/admissions/calculator/rochester.html.
The middle student in the debt distribution at Rochester Community and Technical College owes $9,250 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,250 |
| Median federal debt (graduates only) | $14,743 |
| Typical 10-year monthly payment (graduates) | $156.3/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The percentiles below describe the cumulative federal debt distribution for borrowers at Rochester Community and Technical College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,467 |
| 25th percentile | $4,500 |
| 75th percentile | $16,250 |
| 90th percentile (highest-debt students) | $27,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $9,776 |
| Middle income | $9,250 |
| High income | $7,323 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $8,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,750 |
| Independent students | $12,175 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Rochester Community and Technical College.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The aggregate figures below show how active the program is at Rochester Community and Technical College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 17571 |
| Total Stafford loan amount | $225,778,118 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 58 |
| Total GI Bill amount | $213,459 |
| Average GI Bill amount per recipient | $3,680 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.